PETALING JAYA: A combination of year-end festive spending and tourism activities is expected to boost KLCCP Stapled Group’s performance for the fourth quarter ending Dec 31, 2025 (4Q25).
Analysts covering the stock said the company’s retail and hotel assets should get a lift from stable consumer demand and tourism in 4Q25 and going into upcoming quarters, with a number of events or campaigns such as Visit Malaysia Year 2026 (VMY26).
KLCCP Stapled Group last week reported a slight rise in net profit for 3Q25 of RM209.13mil compared to 3Q24 while revenue stood at RM429.7mil, a slight decrease from 3Q24. For the nine-month period, net profit grew 4.34% to RM611.07mil compared to the same period a year ago, while revenue remained flat at RM1.25bil.
CGSI Research said the average occupancy rate of the company’s retail segment remained strong at 98% in 3Q25, while it also noted the improved earnings across all segments. However, the company’s near-term earnings growth momentum in financial year ending Dec 31, 2025 (FY25) has been largely priced in.
It has maintained a “hold” call on the stock with a target price (TP) of RM8.85.
Kenanga Research expects continuous robust tourist arrivals, with four-fifths of them foreign, to drive the performance of the hotel segment. It said the company’s long-term fundamentals remained intact on retail sales of non-luxury goods indicating spending remains supportive of KLCC Suria Mall.
The brokerage, which has maintained its “market perform” call with a TP of RM8.92, said the company’s hotel segment should perform better in 4Q25 cushioned by the year-end holidays.
Maybank Investment Bank Research, which has maintained a “hold” call but upgraded the TP to RM9 from RM8.76, said earnings would be underpinned by long-term office leases and resilient retail momentum supported by tenant-mix upgrades. It pointed to limited near-term catalysts, although the gearing of 0.23 times provides headroom for ongoing asset enhancements.
